How to weather the financial storm……
Cut your monthly costs by consolidating your accounts and debt into your home loan.
Use the equity in your property to consolidate your accounts.
Equity is the difference between a property’s market value less the outstanding bond amount.
For example:
You purchased a property and bonded it for R600 000. Since then you have paid in and and decreased the loan amount to approximately R450 000, whilst the market value has increased to R850 000.
This means you have equity of R400 000 in your property. This equity could be used to consolidate your accounts. Here’s how:
*The credit card installment is based on a revolving amount and is calculated at 10% of the outstanding amount.
Note: The above is an illustrative example. It is indicative only and uses approximate amounts.
The plan is designed specifically to help you recover from your current negative monthly cash flow to a more positive, stable and affordable position. And in doing so, solve your short term financial problems.
If there is anything we can do to help you – Don’t hesitate to give us a call TODAY !
If you are interested in seeing how consolidating your debt might work for you, there is a convenient online debt consolidation calculator at moneycentral.msdn.com.
Your debt ratio is an important number to be acquainted with. It tells you how your monthly debt payments compare to your monthly income. A high debt ratio might indicate that your monthly expenses are becoming unmanageable.
It also might discourage lenders from loaning you any more money. Use the Debt Evaluation calculator to determine whether your debt ratio is acceptable or too high.
Complete Your Financial Plan
Sign Up To Our Mailing List
Retirement planning is a critical aspect of securing a comfortable and financially stable future. In South Africa, there are various retirement benefits designed to help individuals save for their retirement years.
Read More ...Posted by Gary Walker on Tuesday, June 25, 2024 Views: 318
Planning for retirement is a crucial aspect of financial security, ensuring you have the means to maintain your lifestyle and cover essential expenses in your later years. In South Africa, understanding the various components of retirement planning can help you make informed decisions that safeguard your future.
Read More ...Posted by Gary Walker on Tuesday, June 11, 2024 Views: 206
Taxation of trusts in South Africa is a critical aspect of managing these legal entities, both for financial planning and legal compliance. Understanding these tax laws is essential for anyone involved in personal financial planning or managing a trust.
Read More ...Posted by Gary Walker on Tuesday, May 28, 2024 Views: 662